Research says the #1 fear people have when contemplating retiring is the fear of outliving their money
52% of all workers said this was their #1 fear and 42% said it was the fear of not meeting their financial needs and expenses
This makes sense! Why wouldn’t someone fear outliving their money when they’ve worked 30+ years with an income and now are planning to live 30+years without employment income
While the fear of outliving your money is real and understandable, the outcome doesn’t have to be predestined!
For over 30 years, I have been performing 360 personal financial assessments and retirement plans to help clients build more certainty for a more sustainable retirement lifestyle. We stress test client plan assumptions to increase the probability of retirement plan success.
The difference between retirement success or failure is a function of many wealth accumulation variables including years of prodigious systematic saving, rate of investment returns, and saving taxes along the way. Nonetheless, a thoughtful plan with enough saving overtime can result in a comfortable retirement nest egg.
But, the shift from retirement asset accumulation to income distribution can be tricky and fraught with numerous costly pitfalls, potentially causing a retiree to outlive their money. When and how to take social security, pension and retirement plan distributions can lead to various retirement income durations. Retirement income planning is a different strategy than wealth accumulation. Retirement income strategy can incorporate different vehicles to produce durable lifetime income. The timing of important retirement milestones can lead to different and sometimes very costly outcomes. How to balance the desire to take less risk with the necessity to produce investment returns above inflation and not lose vital capital over a 30-year span is statistically a challenge.
The good news is you do not have to makes these critical lifestyle decisions alone. The assistance of a qualified and knowledgeable professional can help you navigate the complex labyrinth of retirement plan rules, taxes, estate planning decisions, and life and health risks issues to create a customized retirement map for you to follow through retirement.
Through a proven process we can help you create a more certain and sustainable retirement plan that can provide you the confidence that you can enjoy retirement with financial peace of mind.
Remember “a failure to plan is a plan to fail”. Procrastination is the killer of dreams and aspirations. So, don’t let procrastination rob of your aspirations and ultimately your happiness. So, take action today to work your retirement plan, so you can live your retirement dream.
C. Brian Conners,
MBA, CFP
bconners@myfapro.com
949-271-6433
myfapro.com
Learn More …
Comments are closed